Funding you earn now, next payment 05:00 UTC+0.1717%/8h= +188.0% APRnext payment +$2.15 per $10,000 · paid last 24h +0.484%
Price spread now: GMX against Phoenix+1.015%65s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$52 a day on $10k at the current rate, and GMX is 1.015% dearer against Phoenix than usual: you sell high and buy low: +$101 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix JTO | 0.5095 | 0.0464 | pay 0.0058% / 1h | 20m 23s | $376K | $118K | 5x |
| Short | GMX JTO/USD [WBTC.b-USDC] | 0.5147 | L +0.0224% / S −0.2181% | get 0.0273% / 1h | 20m 23s | $2K | — | 50x |
Phoenix JTO
GMX JTO/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $360.6
- Price spread: +1.015% → 0.000%
- $101.49
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $443.09
- Costs to cover
- 0.190%
- Break-even
- from the start
Slippage unknown: Phoenix: live order book, 26 min ago; GMX: no order-book sample. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Phoenix live order book, 26 min ago | 1.94 bp | 20.8 bp −$21 | 67.3 bp −$673 | doesn't fit | doesn't fit |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
JTO on 26 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit JTO_USDC-PERPETUAL | −0.0333% | 1h | 0.5141 | +0.903% | $3K | $20K | 10x | as long as short |
| Gate JTO_USDT | −0.0258% | 8h | 0.5146 | +1.001% | $903K | $1.0M | 75x | as long as short |
| dYdX JTO-USD | 0.0000% | 1h | 0.5152 | +1.120% | $4K | $4K | 5x | as long as short |
| Reya JTORUSDPERP | 0.0000% | 1h | 0.5540 | +8.727% | — | — | — | as long as short |
| OKX JTO-USDT-SWAP | +0.0011% | 4h | 0.5142 | +0.922% | $3.8M | $9.6M | 50x | as long as short |
| Injective JTO/USDC PERP | +0.0033% | 1h | 0.4973 | −2.395% | $31 | $43K | 5.5x | as long as short |
| Bybit JTOUSDT | +0.0051% | 4h | 0.5146 | +1.001% | $7.0M | $14.2M | 50x | as long as short |
| Paradex JTO-USD-PERP | +0.0076% | 8h | 0.5149 | +1.051% | $493 | $10 | 5x | as long as short |
| Lighter JTO | +0.0096% | 1h | 0.5154 | +1.160% | $115K | $229K | 10x | as long as short |
| Hyperliquid JTO | +0.0100% | 1h | 0.5154 | +1.163% | $7.0M | $3.0M | 5x | as long as short |
Deribit JTO_USDC-PERPETUAL
Gate JTO_USDT
dYdX JTO-USD
Reya JTORUSDPERP
OKX JTO-USDT-SWAP
Injective JTO/USDC PERP
Bybit JTOUSDT
Paradex JTO-USD-PERP
Lighter JTO
Hyperliquid JTOShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster JTOUSDT | +0.0100% | 4h | 0.5146 | +1.002% | $122K | $219K | 10x | as long as short |
| Binance JTOUSDT | +0.0100% | 4h | 0.5144 | +0.962% | $11.1M | $28.0M | 75x | as long as short |
| Bulk JTO-USD | +0.0100% | 1h | 0.5122 | +0.540% | $55K | $2K | 10x | as long as short |
| MEXC JTO_USDT | +0.0100% | 4h | 0.5146 | +1.001% | $6.0M | $3.6M | 50x | as long as short |
| KuCoin JTOUSDTM | +0.0100% | 4h | 0.5150 | +1.078% | $1.5M | $611K | 20x | as long as short |
| Bitget JTOUSDT | +0.0100% | 4h | 0.5147 | +1.021% | $2.4M | $2.3M | 50x | as long as short |
| BingX JTO-USDT | +0.0100% | 4h | 0.5145 | +0.981% | — | $8.8M | — | as long as short |
| Variational Omni JTO | +0.0100% | 4h | 0.5142 | +0.924% | $220K | $241K | — | as long as short |
| Orderly PERP_JTO_USDC_mythos | +0.0100% | 4h | 0.5143 | +0.942% | $4K | $652 | 10x | as long as short |
| Backpack JTO_USDC_PERP | +0.0101% | 1h | 0.5150 | +1.078% | $266K | $307K | 10x | as long as short |
| Extended JTO-USD | +0.0104% | 1h | 0.5148 | +1.032% | $518K | $2.2M | 10x | as long as short |
| GMX JTO/USD [WBTC.b-USDC]short | L +0.0224% / S −0.2181% | 1h | 0.5147 | +1.015% | $2K | — | 50x | |
| BloFin JTO-USDT | +0.0340% | 4h | 0.5148 | +1.040% | $600K | $544K | 75x | as long as short |
| Coinbase International JTO-PERP-INTX | +0.0440% | 1h | 0.5161 | +1.295% | $58K | $136K | 25x | as long as short |
| Phoenix JTOlong | +0.0464% | 1h | 0.5095 | long leg | $376K | $118K | 5x | |
| Kraken Futures PF_JTOUSD | +0.0481% | 1h | 0.5147 | +1.021% | $344K | $349K | 25x | as long as short |
Aster JTOUSDT
Binance JTOUSDT
Bulk JTO-USD
MEXC JTO_USDT
KuCoin JTOUSDTM
Bitget JTOUSDT
BingX JTO-USDT
Variational Omni JTO
Orderly PERP_JTO_USDC_mythos
Backpack JTO_USDC_PERP
Extended JTO-USD
BloFin JTO-USDT
Coinbase International JTO-PERP-INTX
Kraken Futures PF_JTOUSD